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Monday, September 26, 2022
Invictus Energy has provided an update on the activities of its 80% owned and operated Cabora Bassa project in Zimbabwe. The company has announced drilling at the Mukuyu-1 exploration well in SG 4571 commenced on September 24. Drilling will commence from the installed conductor at 67 meters to a planned depth of around 650 meters in the 17½ inch intermediate hole section.
The Mukuyu-1 well is designed to target several stacked Triassic and younger sandstones within a 200 sq km four-way dip closure on the basement high trend.
Mukuyu is one of the largest oil and gas exploration prospects to be drilled globally in 2022, targeting a combined prospective resource potential of 20 trillion cubic feet and 845 million barrels of conventional gas condensate, or about 4.3 billion barrels of oil equivalent on a gross mean unrisked basis.
Mukuyu-1 will be drilled to a projected depth of 3,500 meters. Drilling and evaluation of the well is prognosed to take approximately 50 to 60 days to complete.
A video overview of the Mukuyu prospect has been released to the Company’s website.
Mukuyu-1 will be followed by the Baobab-1 well, which will test an independent play along the basin margin in the EPO 1849 block and take approximately 30 to 40 days to complete. Baobab-1 well will target stacked Cretaceous and younger sandstones, within four-way and three-way dip closures, against the southern basin bounding rift fault. Baobab displays similar structural characteristics to the play opening Ngamia discovery in Kenya’s Lokichar Basin, which resulted in subsequent discoveries in the ‘String of Pearls’ along the basin margin.
Invictus Managing Director Scott Macmillan commented: “This is an exciting and long-anticipated moment for Invictus and our shareholders. Invictus, together with our partners, have methodically de-risked and matured the Mukuyu prospect and our Cabora Bassa acreage over the last several years and the commencement of our drilling campaign is a significant milestone.
“Mukuyu-1 is a world-class, basin opening well which, if successful, could be transformative for the Company and Zimbabwe.”
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